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Minnesota has an angel investor tax credit available for individuals. It is a very generous credit, although there is a lot of paperwork and fees involved before you can get your hands on it. The
The IRS and US Treasury have ramped up the penalties and filing requirements for reporting foreign bank accounts and foreign assets.
Like the wicked witch of the west or a snowman in March, if you aren’t careful your business name will be melting away. The MN Secretary of State requires businesses to register in order to do bus
Casualty exchanges under Code Section 1033 are similar but different than the like-kind exchange rules under Code Section 1031. Just so you can have a taste of tax code, here is the first sentence
A like-kind exchange is just that, an exchange of things that are similar. They can be very useful in deferring gains on depreciated property. If you have a business vehicle, you may or may not w
A like-kind exchange is just that; an exchange of things that are similar. They can be very useful in deferring gains on depreciated property. The last post was about business vehicles, but there
Just a reminder that quarterly payroll tax filings are due today: IRS Form 941, State withholding, and State unemployment.
Energy Credits have changed several times over the past few years; the history is not super important. Understanding today’s rules is the priority. Now the residential energy credit has a lifetim
DPAD is the Domestic Production Activities Deduction. As tax law naming conventions go, this one makes a lot of sense. If you have an activity that produces stuff domestically, you get a deductio
If you’re responsible for overseeing the financial reporting at your organization, you’ll want to keep an eye on what’s going on at the Financial Accounting Standards Board (FASB). FASB is current